What is Cyber Risk Quantification?

The primary goal of cyber risk quantification is to provide a clear and measurable understanding of an organization's cyber risk exposure, which can inform decision-making, risk management, and resource allocation. It involves evaluating the likelihood and potential impact of cyber threats and vulnerabilities in a quantitative manner.

Cyber risk quantification is essential to a comprehensive cybersecurity risk management strategy. It allows organizations to make informed decisions about allocating resources, prioritizing security measures, and managing cyber risks effectively.

NIST 800-30 and FAIR are common risk quantification models.